Availment Options Clause Samples
The Availment Options clause defines the various methods or mechanisms by which a party can access or utilize a facility, service, or benefit provided under the agreement. This clause typically outlines the specific procedures, conditions, or types of availment allowed, such as drawing funds in tranches, requesting services on demand, or selecting from different service levels. By clearly specifying how and when availment can occur, the clause ensures both parties understand their rights and obligations, thereby reducing ambiguity and facilitating smooth operation of the agreement.
Availment Options. Subject to the restrictions contained in this Agreement (and in particular, Sections 5.02 and 5.03), the Borrower may receive Advances under Facility B by any one or more of the following Availment Options (or any combination thereof):
(a) Prime-Based Loans; or
(b) Bankers' Acceptances from BA Lenders with a maturity between 28 and 182 days (inclusive), subject to availability; or
(c) BA Equivalent Loans from Non-BA Lenders with a maturity between 28 and 182 days (inclusive), subject to availability. Bankers' Acceptances and BA Equivalent Loans will not be issued with a maturity date later than the Maturity Date. The Borrower may convert all or any portion of the Outstanding Principal Amount under Facility B in the form of any above Availment Option into another form of Availment Option, subject to and in accordance with the terms and conditions of this Agreement (but for greater certainty, Bankers' Acceptances and BA Equivalent Loans may not be converted into another Availment Option prior to the maturity thereof).
Availment Options. Subject to the restrictions contained in this Agreement (and in particular, Sections 5.02 and 5.03), the Borrower may receive Advances under Facility A from each Lender by any one or more of the following Availment Options (or any combination thereof):
(a) Prime Based Loans; or
(b) Bankers' Acceptances from BA Lenders with a maturity between 28 and 182 days (inclusive), subject to availability; or
(c) BA Equivalent Loans from Non-BA Lenders with a maturity between 28 and 182 days (inclusive), subject to availability; or
(d) Letters of Credit, subject to Section 2.09. Bankers' Acceptances and BA Equivalent Loans will not be issued with a maturity date later than the Maturity Date. The Borrower may convert all or any portion of the Outstanding Principal Amount under Facility A in the form of any above Availment Option into another form of Availment Option denominated in the same currency, subject to and in accordance with the terms and conditions of this Agreement (but for greater certainty, Bankers' Acceptances and BA Equivalent Loans may not be converted into another Availment Option prior to the maturity thereof).
Availment Options. (a) Subject to the restrictions contained in this Agreement (and in particular, Sections 5.02 and 5.03) each Canadian Borrower may receive Advances under Facility C by any one or more of the following Availment Options (or any combination thereof):
(i) Canadian Prime Rate Loans;
(ii) U.S. Base Rate Loans;
(iii) Bankers' Acceptances, each having a maturity between 28 and 182 days (inclusive), subject to availability;
(iv) BA Equivalent Loans from Non-BA Lenders with a maturity between 28 and 182 days (inclusive), subject to availability; or
(v) LIBOR Loans with a LIBOR Period of one (1), two (2) or three (3) months, subject to availability.
(b) Subject to the restrictions contained in this Agreement (and in particular, Sections 5.02 and 5.03) each U.S. Borrower may receive Advances under Facility C by any one or more of the following Availment Options (or any combination thereof):
(i) U.S. Prime Rate Loans; or
(ii) LIBOR Loans with a LIBOR Period of one (1), two (2) or three (3) months, subject to availability.
(c) Bankers' Acceptances, BA Equivalent Loans and LIBOR Loans will not be issued which in the opinion of the Lenders could result in the Facility C Limit being exceeded at any time. The Outstanding Advances under Facility C in the form of any above Availment Option may be converted into another form of Availment Option, subject to and in accordance with the terms and conditions of this Agreement (but for greater certainty, Bankers' Acceptances, BA Equivalent Loans and LIBOR Loans may not be converted into another Availment Option prior to the maturity thereof).
Availment Options. Subject to the restrictions contained in this Agreement (and in particular, Sections 5.02 and 5.03), the Borrower may receive Advances under Facility A by any one or more of the following Availment Options (or any combination thereof):
(a) Prime-Based Loans; or
(b) Bankers' Acceptances from BA Lenders with a maturity between 28 and 182 days (inclusive), subject to availability; or
(c) BA Equivalent Loans from Non-BA Lenders with a maturity between 28 and 182 days (inclusive), subject to availability; or
(d) CDOR Loans with a CDOR Period of one (1), three (3) or six (6) months, subject to availability; or
(e) Letters of Credit, subject to Section 2.08. Bankers' Acceptances, BA Equivalent Loans and CDOR Loans will not be issued with a maturity date later than the Maturity Date. The Borrower may convert all or any portion of the Outstanding Principal Amount under Facility A in the form of any above Availment Option into another form of Availment Option, subject to and in accordance with the terms and conditions of this Agreement (but for greater certainty, Bankers’ Acceptances. BA Equivalent Loans and CDOR Loans may not be converted into another Availment Option prior to the maturity thereof).
Availment Options. (a) Subject to the restrictions contained in this Agreement (and in particular, Sections 3.02 and 3.03) the Borrower may receive Advances under Facility A by any one (1) or more of the following Availment Options (or any combination thereof):
(i) Canadian Prime Rate Loans;
(ii) Bankers' Acceptances, each having a maturity between twenty-eight (28) and one hundred and eighty-two (182) days (inclusive), subject to availability; or
(iii) BA Equivalent Loans from Non-BA Lenders with a maturity between twenty-eight (28) and one hundred and eighty-two (182) days (inclusive), subject to availability;
(b) Bankers' Acceptances and BA Equivalent Loans will not be issued which in the opinion of the Lenders could result in the Facility A Limit being exceeded at any time. The Outstanding Advances under Facility A in the form of any above Availment Option may be converted into another form of Availment Option, subject to and in accordance with the terms and conditions of this Agreement (but for greater certainty, Bankers' Acceptances and BA Equivalent Loans may not be converted into another Availment Option prior to the maturity thereof).
Availment Options. Subject to the restrictions contained in this Agreement (and in particular, Sections 3.02 and 3.03) the Borrower may receive Advances under Facility A by any one (1) or more of the following Availment Options (or any combination thereof):
Availment Options. Subject to the restrictions contained in this Agreement (and in particular, Sections 5.02 and 5.03), the Borrower may receive Advances under each Non-Revolving Facility by any one or more of the following Availment Options (or any combination thereof):
(a) Prime-Based Loans; or
(b) Bankers' Acceptances from BA Lenders with a maturity between 28 and 182 days (inclusive), subject to availability; or
(c) BA Equivalent Loans from Non-BA Lenders with a maturity between 28 and 182 days (inclusive), subject to availability; or
(d) CDOR Loans with a CDOR Period of one (1), three (3) or six (6) months, subject to availability.
Availment Options. From and after the Effective Date and relying on each of the representations and warranties set out in Article 2 and subject to the terms and conditions of this Agreement:
(i) each Syndicated ▇▇▇▇▇▇ agrees to make Syndicated Accommodations available to the Borrower, up to the amount of its Syndicated Facility Commitment, by way of a non-revolving term credit facility for the purposes set forth in Section 3.4(a), commencing on the Effective Date and ending on the Maturity Date (the “Syndicated Facility”); and
(ii) the Operating ▇▇▇▇▇▇ agrees to make Operating Accommodations available to the Borrower up to the aggregate amount of the Operating Facility Commitment, by way of a non-revolving credit facility for the purposes set forth in Section 3.4(b) and subject to Section 3.3, commencing on the Effective Date and ending on the Maturity Date (the “Operating Facility”).
Availment Options. Subject to the restrictions contained in this Article III and the exceptions indicated below, the Borrower may receive Advances under Facility B from the Facility B Lenders (subject to the restrictions set out below) by any one or more of the following Availment Options (or any combination thereof):
(i) Canadian Dollar Loans in minimum amounts of $500,000 and multiples of $100,000; or
(ii) Bankers' Acceptances from the BA Lenders in minimum amounts of $500,000 and multiples of $100,000; or
(iii) BA Equivalent Note Loans from the Non-BA Lenders in minimum amounts of $500,000 and multiples of $100,000; or
(iv) Fixed-Rate Term Loans in minimum amounts of $500,000 and multiples of $100,000, subject to section 3.07; provided that Bankers' Acceptances, BA Equivalent Note Loans and Fixed-Rate Term Loans will not be issued with a maturity date later than the Facility B Maturity Date or which could result in the Facility B Limit being exceeded at any time. The Borrower may convert Outstanding Advances under Facility B in the form of any above Availment Option into another said form of Availment Option, subject to and in accordance with the terms and conditions of this Agreement (but for greater certainty, Bankers' Acceptances, BA Equivalent Note Loans and Fixed-Rate Term Loans may not be converted into another Availment Option prior to the maturity thereof).
Availment Options. Subject to the restrictions contained in this Agreement (and in particular, sections 6.02 and 6.03), the Borrower may receive Advances under Facility B by any one or more of the following Availment Options (or any combination thereof):
(a) Prime Rate Loans; or
(b) Bankers' Acceptances from BA Lenders with a maturity between 30 and 90 days (inclusive), subject to availability; or
(c) BA Equivalent Loans from Non-BA Lenders with a maturity between 30 and 90 days (inclusive), subject to availability; or
(d) Base Rate Loans; or
(e) LIBOR Loans with a LIBOR Period of one (1), two (2) or three (3) months, subject to availability. Bankers' Acceptances, BA Equivalent Loans and LIBOR Loans will not be issued with a maturity date later than the Facility B Maturity Date. The Borrower may convert all or any portion of the Outstanding Advances under Facility B in the form of any above Availment Option into another form of Availment Option, subject to and in accordance with the terms and conditions of this Agreement (but for greater certainty, Bankers' Acceptances, BA Equivalent Loans and LIBOR Loans may not be converted into another Availment Option prior to the maturity thereof).